UBS Group Analysts Give National Bank of Canada (TSE:NA) a C$123.00 Price Target

UBS Group set a C$123.00 price target on National Bank of Canada (TSE:NA) in a research report report published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other analysts have also commented on NA. Scotiabank lowered their price objective on shares of National Bank of Canada from C$119.00 to C$116.00 and set a hold rating for the company in a report on Tuesday, June 18th. Royal Bank of Canada raised their price objective on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the stock a sector perform rating in a report on Thursday, May 30th. Desjardins lifted their target price on shares of National Bank of Canada from C$116.00 to C$119.00 and gave the company a hold rating in a report on Thursday, May 30th. Cormark lifted their target price on shares of National Bank of Canada from C$119.00 to C$120.00 in a report on Thursday, May 30th. Finally, TD Securities lifted their target price on shares of National Bank of Canada from C$118.00 to C$121.00 in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$114.62.

National Bank of Canada Price Performance

TSE NA opened at C$109.22 on Tuesday. National Bank of Canada has a 1 year low of C$84.27 and a 1 year high of C$118.77. The business’s 50-day moving average is C$112.76 and its 200 day moving average is C$108.15. The stock has a market capitalization of C$37.12 billion, a PE ratio of 11.49, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 EPS for the quarter, topping the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The business had revenue of C$2.84 billion during the quarter, compared to analyst estimates of C$2.89 billion. As a group, equities research analysts anticipate that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, June 24th will be issued a $1.10 dividend. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. This represents a $4.40 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Monday, June 24th. National Bank of Canada’s payout ratio is presently 44.63%.

Insider Buying and Selling

In other news, Director Yvon Charest acquired 324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of C$116.20 per share, for a total transaction of C$37,648.80. In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of National Bank of Canada stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest bought 324 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of C$116.20 per share, with a total value of C$37,648.80. 0.20% of the stock is owned by company insiders.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.